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A Study of the Austrian Labor Market Dynamics Using a Model of Search Equilibrium

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  • Launov, Andrey

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    (University of Mainz)

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    Abstract

    In this work we provide a theoretical overview of a search equilibrium model with continuous productivity dispersion and perform its estimation for the Austrian data. We describe empirically the dynamics of market equilibrium outcomes. Special emphasis is made on the analysis of changes in labour mobility and dependence of expected job durations on offered wages. We investigate the influence of excessive labour mobility on the equilibrium profits of firms. Facing a problem of top-coded wage data, we suggest an appropriate adjustment of the existing estimation methodology. Finally, we extend the econometric model for the observed heterogeneity of agents.

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    Bibliographic Info

    Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 801.

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    Length: 25 pages
    Date of creation: Jun 2003
    Date of revision:
    Handle: RePEc:iza:izadps:dp801

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    Related research

    Keywords: search equilibrium; nonparametric estimation; top-coded wages;

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    References

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    1. Burdett, Kenneth & Mortensen, Dale T, 1998. "Wage Differentials, Employer Size, and Unemployment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(2), pages 257-73, May.
    2. Koning, Pierre & Ridder, Geert & van den Berg, Gerard J, 1995. "Structural and Frictional Unemployment in an Equilibrium Search Model with Heterogeneous Agents," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 10(S), pages S133-51, Suppl. De.
    3. Bontemps, Christian & Robin, Jean-Marc & Van den Berg, Gerard J, 1999. "An Empirical Equilibrium Job Search Model with Search on the Job and Heterogeneous Workers and Firms," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(4), pages 1039-74, November.
    4. Guerre, E. & Perrigne, I. & Vuong, Q., 1995. "Nonparametric Estimation of First-Price Auctions," Papers, Southern California - Department of Economics 9504, Southern California - Department of Economics.
    5. Emmanuel Guerre & Isabelle Perrigne & Quang Vuong, 2000. "Optimal Nonparametric Estimation of First-Price Auctions," Econometrica, Econometric Society, Econometric Society, vol. 68(3), pages 525-574, May.
    6. Audra J. Bowlus & Nicholas M. Kiefer & George R. Neumann, 1997. "Equilibrium Search Models and The Transition from School to Work," Labor and Demography, EconWPA 9705004, EconWPA.
    7. Fichtenbaum, Rudy & Shahidi, Hushang, 1988. "Truncation Bias and the Measurement of Income Inequality," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 6(3), pages 335-37, July.
    8. Winter-Ebmer, Rudolf, 1996. "Potential Unemployment Benefit Duration and Spell Length: Lessons from a Quasi-experiment in Austria," CEPR Discussion Papers 1534, C.E.P.R. Discussion Papers.
    9. Christian Bontemps & Jean-Marc Robin & Gérard J. Van Den Berg, 2000. "Equilibrium Search with Continuous Productivity Dispersion: Theory and Nonparametric Estimation," Working Papers 249986, Institut National de la Recherche Agronomique, France.
    10. Berg, G.J. & Ridder, G., 1993. "An empirical equilibrium search model of the labour market," Serie Research Memoranda, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics 0039, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    11. Bowlus, Audra J & Kiefer, Nicholas M & Neumann, George R, 1995. "Estimation of Equilibrium Wage Distributions with Heterogeneity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 10(S), pages S119-31, Suppl. De.
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